5.7 - Cultural Perceptions of Financial Products Flashcards
1
Q
What does culture refer to?
A
People’s ethnic and religious backgrounds as well as the social groups to which they belong
2
Q
Why did people look down upon those who used hire purchase?
A
Because only low-income families needed it
3
Q
What made borrowing more socially acceptable?
A
The availability of credit cards and other forms of credit
